Tax Advisory

Tax Advisory

Modern tax systems present considerable challenges to businesses. Navigating the intricacies of both domestic and international tax regulations requires precise and well-informed guidance. Our advisory services are designed to assist you in devising a tax strategy that ensures compliance with Thai and international laws while enabling your company to leverage the benefits available within the legal framework fully.

Accounting, Tax & Payroll
Tax Advisory at a glance
Ensure Compliance

Thailand’s Revenue Code contains numerous rules and regulations that businesses must comply with. Failure to do so could see penalties being placed on the company.

Tax Planning

Create a tax strategy that ensures compliance with Thai and international laws while enabling your company to leverage the benefits available within the legal framework fully.

Tax Advisory

Ensure your company is prepared for all the essential tax requirements for companies in Thailand. Ensure your understanding for taxes including Withholding Tax, VAT and Corporate Income Tax.

Why work with VB and Partners?

Embarking on a business venture, especially in a foreign country, can appear overwhelming. At VB & Partners, we understand this challenge and our experts are ready to assist with your needs. Our comprehensive range of services covers every step, from initial business feasibility assessments to complete incorporation and starting your business operations.

Navigating local laws and regulations is an essential concern for foreign enterprises. Our tailored solutions are designed to ensure adherence to all legal requirements. Backed by a team of experts who are familiar with the Thai market and regulations, resulting in the smooth operation of your business.

VB & Partners takes pride in its team of seasoned experts. Ranging from Incorporation, Accounting & Secretary Services to Immigration and Real Estate, VB & Partners stands as your premier destination for all your legal and accounting needs.

What does this package include

  • Prepare a tax strategy to ensure the best practices for your business in Thailand.
  • Answering questions about the tax requirements and processes.
  • Advising you on future duties to ensure a smooth business operation
In addition to the aforementioned requirements, please note that additional documentation may be necessary during the application process.
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Tax Advisory
Navigate complex tax regulations and ensure compliance
Optimize your taxes, reducing liability and risks
5 Business Days
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Excluding official fees and transportation fees

Price: + 7% VAT

What you must know before applying

Ensure Compliance
Ensure all tax deductions and payments adheres to Thai Tax laws and regulations which can often be confusing.
Tax Deadlines
Ensure full awareness of any tax payment deadlines. Failure to satisfy these deadlines could result in fines being enforced on the company.
Annual Reports
Annual tax reports are required for companies in Thailand summarize your company's financial activities for the year and ensure compliance with tax regulations.
Pain Point
Keeping up-to-date with your company’s tax obligations can be a significant pain point in Thailand. Thai tax laws can often be confusing to understand.
Tax Strategy
Our advisory services are designed to assist you in devising a tax strategy that ensures compliance with both Thai and international laws while enabling your company to fully leverage the benefits available within the legal framework.
Year-End Reporting
Ensure awareness and best practices in relation to the mandatory annual tax and financial reports for Thai authorities.

Book a Call with our expert

Up to an hour consultation on the process of setting up a company in Thailand.

We will provide you with information on key areas such as; company structure, taxes, accounting and other general aspects of opening a company in Thailand. We will also answer any other legal questions you may have to provide you with a clear overview.

If some extra research is necessary to answer your questions, our experts will check and revert to you with complementary elements by email.

This consultation is provided by legal experts in English or in French.

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Frequently Asked Question

What are the accounting standards used in Thailand?

There are 2 tiers of Thai accounting standards (TAS) and Thai financial reporting standards (TFRS):

  1. TFRS for publicly accountable entities that follow International Financial Reporting Standards (IFRS).
  2. TFRS for non-PAE (a business entity whose securities are traded; a public company limited or a company holding assets in a fiduciary capacity).
What should account books include?

According to Thai law, the account books should contain the following:

  • The daily financial transactions and the bills of the transactions.
  • Ledgers.
  • Original and copies of bills.
  • Trial balance.
What are the accounting services in Thailand that can be expected?

The following services are usually provided:

  • Value Added Tax
  • Creating Monthly Reports
  • Annual Tax Return
  • Record Accounting Transactions
  • Withholding Tax & Returns
  • Schedules for Financial Statements
  • Mid-Year Tax Returns
  • Annual Tax Return
  • Submitting Annual Financial Statement to the Thai Government
  • Payment Transfers
What are the tax filing and accounting deadlines in Thailand?
  • Bookkeeping
    The first duty of the accountant is to prepare the monthly financial statement and ensure reconciliation between the bookkeeping and the bank statements. Our accountant uses the software Xero allowing you to keep track of the bookkeeping at any time and easily obtain monthly financial statements, profit and loss Statement as well as balance sheet.

    When: Monthly Basis

  • VAT filing (form PP30 and PP36)
    The second duty of the accountant is to proceed to the tax filings for the VAT.

    When: Before the 7th of each month and 15th day of the following month (7th for PP36 and 15th for PP30).

  • Withholding taxes on services and rent (Form PND 3/53/54)
    The payment of services and rent is subject to a withholding tax (3% on domestic payment and up to 15% on payment of services out of Thailand). The withholding tax is withheld from the total amount of the invoice (before VAT) by the payer. The accountant prepares and sends a withholding tax certificate to the payee for each transaction subject to the withholding tax. On the payee side, the withholding tax is considered as a tax advance on the yearly corporate income tax.

    When: Before the 7th of each month.

  • Social Security Fund registration and filing
    Registration with the Social Security Fund (SSF) and monthly contribution are mandatory for employees aged from 15 to 60 years old. A new employee must be registered with the SSF within 30 days. The contribution rate is 5% of the gross salary with a cap at 750 THB. The contribution is paid by both the employee (withheld by the employer) and the employer with a maximum of 1,500 THB per month. This is part of our payroll service.

    When: For each new hire or termination and on the 15th of each month.

  • Personal income tax
    The personal income tax is withheld from the employee’s salary and paid by the employer on his behalf on a monthly basis (PND 1). At the end of the year, the employee must file his annual personal income tax (PND 90 or 91). Our accountant can also take care of the annual personal income tax filing of employees when he is in charge of the payroll.

    When: Before the 7th of each month and last day of March.

  • Corporate income tax
    The Corporate Income Tax rate in Thailand is 20% on net profits ( a progressive rate applies up to a certain amount of income ). A prepayment of half of the corporate income tax based on the estimated annual net profit must be done within 2 months of the first 6 months accounting period (Form CIT 51). The prepaid tax is creditable against the annual tax filing must be done within 150 days from the closing date of its accounting period (Form CIT 50).

    : Within two months of the first 6 month of the year and 150 days before the end of the year.
What is included in bookkeeping services?
  • Prepare and provide monthly profit/loss statements, balance sheets and input – output tax reports and annual reports.
  • Calculate and submit payment for any relevant tax deductions.
  • Prepare, change or update business documents at the relevant departments.
  • Answering questions in relation to the Bookkeeping process.
  • Advising you on the future duties to ensure a smooth business operation.
Why is bookkeeping and tax filing important in Thailand?

Keeping up-to-date with your company’s bookkeeping can be a significant pain point for many business operators in Thailand. Thai accounting regulations can often be confusing to understand and failure to follow them properly could result in significant fines being imposed on your company.